Friday’s 13G filing by Dan Loeb’s Third Point LLC reveals that the activist investor no longer has a holding in Herbalife Ltd. (NYSE:HLF).
The filing puts the seal on what has been known for a while.
Loeb’s valuation
Dan Loeb took the opposite side from Bill Ackman’s massive $1B short on Herbalife Ltd. (NYSE:HLF). Ackman has been asserting that the multi-level marketing company is nothing but a pyramid scheme, and that its real value is likely zero.
Loeb felt, however, that the company was undervalued and told shareholders of his fund in a January 9, 2013 letter that...
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